2024-10-14
Today, Lietuvos bankas published the balance of payments for August 2024, which shows that:
in August, the current account balance (CAB) turned from deficit (€30.7 million) to surplus, compared to July, and amounted to €282.1 million. This significant development was mainly influenced by a fall in deficits on the foreign trade (51.6%) and primary income (36.6%) balances (see Chart 1). As exports of foreign trade rose (4.4%) and imports decreased (5.0%), the foreign trade deficit significantly dropped to €289.0 million. The decline in surplus on the services balance (6.9%) was influenced by a rise in imports of services which was higher than exports (14.3% and 4.7% respectively). The primary income deficit stood at €144.1 million;
the surplus on the secondary income balance totalled €14.4 million. Transfers from European Union (EU) support funds declined by 26.0%, while Lithuania’s calculated contributions to the EU budget remained unchanged. Personal transfers from abroad and from Lithuania fell by 1.6% and 6.0% respectively, to stand at €71.8 million and €34.9 million respectively;
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the positive net flow of financial account investment (€883.9 million) was mainly driven by the positive net flow of portfolio investment (€624.7 million) and other investment (€337.1 million) (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data on the balance of payments for August is available on Lietuvos bankas’ website (External statistics).
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